Buhari
Buhari

INDICATIONS that the federal government may have kow towed to pressure from diverse stakeholders in Project Nigeria to rethink its plan to sell critical national assets to fund development given the fact of the current economic recession emerged yesterday. This is as the Minister of Finance, Kemi Adeosun stated that Nigeria is already getting out of recession. When the plan broke weeks back not a few Nigerians from across various strata of the economy rose against it,while some very vehemently against the idea. The intention sooner gained a record currency with individual opposition to the plan metamorphosing into group agitations. Information minister, Lai Mohammed yesterday informed that there was no such plan by government as what had been reported since business mogul, AlikoDangote’s famous interview with a foreign news medium touted the idea, were mere speculations. Mohammed spoke at the end of the weekly Federal
Executive Council, FEC meeting in Abuja yesterday. According to the Information Minister, although the National Economic Council will recommend, it is the FEC that will decide. The minister stated that whatever the FEC decided would be the position of the government. He said: “What the government will do is to reflate the economy. Everything you have heard so far is just suggestion. Until the government makes its position known, all these assets’ sale, assets’ leasing; whatever it is being bandied about, they are nothing but speculations. The government is yet to come out with its position on how to bail out the economy, and it will do that position” Nigerians have been consistently and largely unanimous in their opposition to the planned sale of selected public assets going by reactions across platforms at states and federal level, investigations by Sahel Standard has revealed. Checks revealed that most Nigerians are worried as the proceeds will be shared by all the three levels of government at a time many state governors could not account for the bailout granted them to pay salaries. Others are also afraid that selling off performing assets amount to shortsightedness and planlessness as proceeds cannot guarantee revival from the recession. Some others argued that such sale now will divert from the urgent need to redirect the nation’s economic orientation from excessive consumption of foreign goods and failure to produce even the least of product within the country. The most critical of the push against the sale is the lack of trust in the willingness of the administration to judiciously apply or manage the proceeds. Allegations flying round are that the planned sale is a plot by privileged elite to strip the nation of its valuable assets. Meanwhile, Minister of Finance, Mrs Kemi Adeosun yesterday also, said the country was already getting out of the economic recession, given the approaches of the federal government to reverse the trend. Adeosun said this while fielding questions from journalists at the end of a two-day National Council on Finance and Economic Development, NACOFED, conference held in Abeokuta, Ogun State. She noted that the problems had been identified and steps already being taken to block wastages, invest on infrastructure. According to her, the NACOFED was a successful deliberation as it was able to chat ways towards addressing the economic challenges. She explained that the agricultural and solid mineral sectors were already responding to policy initiatives of the government. She said, “It was a successful outing, we are able to deliberate on issues facing the nation, NACOFED is unique, its combined: the federal government, the state government, and by extension the local government and private sector and we were able to share ideas, chat a way forward, actionable points at all levels, how we can control our spending better and invest in infrastructure to get the economy moving. “We are already getting out of recession because of the actions the federal government is taking. “If you are in a problem, the day you start to step towards progression, you are already getting out of it; we are getting out of it. “We are investing more in capital than we have ever invested. We are sorting out infrastructure; we are stopping wastage and so the sign of recovery is already there. We are already getting bit of it because of what we are doing. “You would see that agriculture and solid minerals are already starting to grow; they are responding to our policy initiatives and we expect to continue in that direction,” she declared. Adeosun said stakeholders from 36 states of the country had brainstormed for two days while resource persons also delivered papers, adding that the economic recovery would be driven from the state and local government levels. Speaking earlier in her closing remarks, Adeosun advised Commissioners for Finance and the Accountant-Generals in the states to compute their balance sheets, which would show their assets and liabilities. She said, “What are your assets; what are your liabilities? Know you position; it might not be pleasant reading but you must know it. What are those pension liabilities, contractors liabilities that are hidden? Bring them out, compute them, know them. “It is very important because one of those things we have realised at the federal level is that if that had been done; we would have probably made better decisions in the past. “Because if you don’t have the data, you can carry on spending as if all is well, only for the problem to come out as it has done in our own case to affect us,” the minister submitted.


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  • vic

    A BUNCH OF LOOTERS, FOREX FRAUDSTERS, LIARS AND SPECULATORS WITH NO ECONOMIC POLICIES FOR THE COUNTRY. UNDER BUHARI NIGERIA IS SLOWLY DYING. THIS WALKING BAMBOO STICK HAS REDUCED NAIRA TO A WASTE PAPER. THE DAURA FOOL LIVES IN HIS OWN DREAMLAND WHICH LACKS EVERYTHING. WE ARE UNLUCKY TO ELECT THIS DEADWOOD DECEITFUL LIAR AND A FOREX FRAUDSTER AS OUR PRESIDENT.